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SSR Mining (NASDAQ:SSRM) Sets New 12-Month Low Following Analyst Downgrade

Defense World · Sep 27, 2022 01:32

SSR Mining Inc. (NASDAQ:SSRM – Get Rating) (TSE:SSO)'s stock price reached a new 52-week low during mid-day trading on Monday after BMO Capital Markets lowered their price target on the stock from $26.00 to $25.00. BMO Capital Markets currently has an outperform rating on the stock. SSR Mining traded as low as $12.86 and last traded at $12.91, with a volume of 79012 shares traded. The stock had previously closed at $13.60.

A number of other equities research analysts have also issued reports on SSRM. TheStreet lowered shares of SSR Mining from a "b-" rating to a "c+" rating in a report on Tuesday, August 30th. National Bank Financial reduced their price target on shares of SSR Mining from C$32.50 to C$27.50 in a report on Thursday, July 21st. Finally, UBS Group assumed coverage on shares of SSR Mining in a research note on Tuesday, May 31st. They issued a "buy" rating and a $30.50 price target on the stock. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $30.36.

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Insider Activity

In other news, COO Steward John Beckman sold 5,400 shares of the stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $16.01, for a total value of $86,454.00. Following the sale, the chief operating officer now owns 146,255 shares of the company's stock, valued at $2,341,542.55. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold 16,868 shares of company stock valued at $260,318 in the last ninety days. Insiders own 0.51% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Van ECK Associates Corp lifted its stake in shares of SSR Mining by 7.5% during the 1st quarter. Van ECK Associates Corp now owns 22,323,546 shares of the basic materials company's stock worth $485,536,000 after acquiring an additional 1,550,609 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of SSR Mining by 1.1% during the first quarter. Vanguard Group Inc. now owns 6,902,608 shares of the basic materials company's stock valued at $150,132,000 after purchasing an additional 77,029 shares during the period. Mackenzie Financial Corp grew its holdings in shares of SSR Mining by 16.1% in the first quarter. Mackenzie Financial Corp now owns 6,096,763 shares of the basic materials company's stock worth $132,759,000 after purchasing an additional 846,950 shares during the last quarter. Franklin Resources Inc. increased its stake in SSR Mining by 7.2% in the 2nd quarter. Franklin Resources Inc. now owns 4,025,756 shares of the basic materials company's stock worth $67,236,000 after buying an additional 269,095 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in SSR Mining by 4.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,616,492 shares of the basic materials company's stock valued at $78,661,000 after buying an additional 169,767 shares in the last quarter. Hedge funds and other institutional investors own 57.70% of the company's stock.

SSR Mining Stock Performance

The company has a current ratio of 7.10, a quick ratio of 5.17 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $2.74 billion, a PE ratio of 9.23, a PEG ratio of 4.56 and a beta of 0.96. The firm's 50-day simple moving average is $14.79 and its 200-day simple moving average is $18.33.

SSR Mining Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Friday, August 12th were paid a $0.07 dividend. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $0.28 annualized dividend and a yield of 2.14%. SSR Mining's dividend payout ratio (DPR) is currently 19.72%.

SSR Mining Company Profile

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SSR Mining Inc, together with its subsidiaries, engages in the acquisition, exploration, development, and operation of precious metal resource properties in Turkey and the Americas. The company explores for gold, silver, copper, lead, and zinc deposits. Its projects include the Çöpler Gold mine located in Erzincan, Turkey; the Marigold mine located in Humboldt County, Nevada, the United States; the Seabee Gold Operation located in Saskatchewan, Canada; and the Puna Operations in Jujuy, Argentina.